EQUITIES
The Nigerian equities market closed in the red today, as sell pressures on OANDO (-5.5%) and FIRSTHOLDCO (-3.0%) drove the All-Share Index lower by 0.1% to 105,547.16 points. Consequently, the Year-to-Date return moderated to +2.6%.
The total volume of trade declined by 21.3% to 431.22 million units, valued at NGN11.78 billion, and exchanged in 17,082 deals. FIDELITYBK was the most traded stock by volume at 41.73 million units, while GTCO was the most trade stock by value at NGN2.30 billion.
Sectoral performance was mixed as the Insurance (-2.6%) and Oil & Gas (-0.5%) indices settled lower, while the Banking (+0.1%) index advanced. The Industrial Goods and Consumer Goods indices remained unchanged.
As measured by market breadth, market sentiment was negative (0.8x), as 31 tickers lost relative to 25 gainers. UACN (-10.0%) and UPL (-10.0%) posted the most significant losses of the day, while UPDCREIT (+10.0%) and AFRIPRUD (+10.0%) led the gainers.
CURRENCY
The official FX rate appreciated by 0.2% to NGN1,534.00/USD.
MONEY MARKET & FIXED INCOME
The overnight lending rate remained unchanged at 27.0%, closing at a net long position (NGN1.50 trillion).
Proceedings in the Treasury bills secondary market were bearish, as the average yield expanded by 11bps to 19.6%. Across the curve, the average yield was flat at the short end, but expanded at the mid (+30bps) and long (+5bps) segments, driven by profit-taking activities on the 162DTM (+91bps) and 232DTM (+26bps) bills, respectively. Similarly, the average yield expanded by 5bps to 24.3% in the OMO segment.
Meanwhile, trading in the FGN bond secondary market was quiet, as the average yield pared by 1bp to 18.5%. Across the benchmark curve, the average yield contracted at the short (-4bps) end due to buying interest in the JAN-2026 (-27bps) bond, but remained unchanged at the mid and long segments.
